The largest coal company in the states has filed for bankruptcy. Coal prices, along with oil, have plummeted.
From a power station perspective and from the consumer perspective, it seems like this would increase demand and be a net bad thing from an environmental perspective but paradoxically, from the miners perspective, this drives down production and may be a net win for the environment.
There were multiple proposed major coal projects to extract coal from Wyoming and Montana, ship it to a terminal in either Portland Oregon or Bellingham Washington and ship it to China. With prices at this level, it is impossible to make money doing that and so it is a non starter.
Tar sands in Alberta are still in production but they are losing money with each barrel.
http://ift.tt/1qszjFo
From a global warming perspective, is it better to have cheap or expensive fossil fuels? Or is that even the right question?
From a power station perspective and from the consumer perspective, it seems like this would increase demand and be a net bad thing from an environmental perspective but paradoxically, from the miners perspective, this drives down production and may be a net win for the environment.
There were multiple proposed major coal projects to extract coal from Wyoming and Montana, ship it to a terminal in either Portland Oregon or Bellingham Washington and ship it to China. With prices at this level, it is impossible to make money doing that and so it is a non starter.
Tar sands in Alberta are still in production but they are losing money with each barrel.
http://ift.tt/1qszjFo
From a global warming perspective, is it better to have cheap or expensive fossil fuels? Or is that even the right question?
via International Skeptics Forum http://ift.tt/1V4P7eJ
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